26 C
Tuesday, July 16, 2024

The IPO for the Indian Renewable Energy Development Agency is now accepting subscriptions

<p>As of today, November 21, subscriptions are being taken for the first public offering (IPO) of the Indian Renewable Energy Development Agency (IREDA). The issue will conclude on Thursday, November 23. Prior to the IPO, the business has received contributions totaling Rs 643 crore from anchor investors.<img decoding=”async” class=”alignnone wp-image-284638″ src=”https://www.theindiaprint.com/wp-content/uploads/2023/11/theindiaprint.com-the-board-of-openai-approached-the-anthropic-ceo-about-a-top-position-and-merger-r.png” alt=”theindiaprint.com the board of openai approached the anthropic ceo about a top position and merger r” width=”1527″ height=”1018″ title=”The IPO for the Indian Renewable Energy Development Agency is now accepting subscriptions 3″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2023/11/theindiaprint.com-the-board-of-openai-approached-the-anthropic-ceo-about-a-top-position-and-merger-r.png 660w, https://www.theindiaprint.com/wp-content/uploads/2023/11/theindiaprint.com-the-board-of-openai-approached-the-anthropic-ceo-about-a-top-position-and-merger-r-150×100.png 150w” sizes=”(max-width: 1527px) 100vw, 1527px” /></p>
<p>The nation’s first PSU IPO to hit the market in 2023 is IREDA, which follows LIC’s May 2022 stock market debut. The biggest IPO in India as of right now is LIC.</p>
<p>IREDA’s IPO includes a fresh issuance of 40.3 crore shares in addition to an Offer for Sale of 26 crore shares at a face value of Rs 10 each. Investors may buy in lots of 460 shares or multiples thereof. The offer has a predetermined price range of Rs 30 to Rs 32 per share. A retail investor may bid a minimum of one lot, or Rs 14,720, and a maximum of thirteen lots, or Rs 1,91,360, depending on the upper levels of the price band.</p>
<p>This IPO is generating a lot of anticipation on the black market, according to a Moneycontrol analysis. Unlisted shares of the IREDA IPO were trading at a premium of Rs 7 on the gray market on November 18. This suggests that the company’s shares would be introduced for Rs 39. But just because an IPO’s shares are trading for higher on the gray market doesn’t mean that its listing on the stock market will likewise bring in a premium.</p>
<p>According to Bigul CEO Atul Parekh, of the five mainboard IPOs slated for next week, primary market investors will be watching IREDA. Long-term investments may be made in the IREDA IPO by investors, which is expected to result in improved listing advantages. Sonam Srivastava, the fund manager and founder of Wright Research, has also urged investors to take part in this IPO concurrently.</p>
<p>At the moment, IREDA is the largest pure-play NBFC for green finance in India. “Green financing” refers to any organized money that aids in global initiatives to combat climate change and transition to a low-carbon economy.</p>
<p>Furthermore, no state represents more than 16% of all loans made by the organization, which prevents a state or regional concentration. This contributes to the portfolio’s diversity. In September of this year, the Department of Public Enterprise also promoted IREDA from Schedule B to Schedule A on the list of CPSEs.</p>
<p>(Disclaimer: Brokerage houses’ recommendations are the basis for the stocks featured here. Speak with a licensed investment adviser before making any financial investments in any of them. News18 is not liable for any earnings or losses you may incur.</p>
<p> </p>

Related Articles

- Advertisement -
- Advertisement -
- Advertisement -
error: Content is protected !!